Study: Leading Countries by Number of Crypto Exchanges & Traders

Specialists from the Belarusian marketing agency BDCenter analyzed 30 of the most popular cryptocurrency exchanges.

The experts concluded that the largest number of users of this type platforms is located in the United States, Russia, and China. Vietnam and Turkey close the top five leaders. BDCenter data show that the average age of a trader in China is 20-30 years, in the U.S. — 30 years. In Russia, 50% of traders are between 25 and 40 years old, and 30% are between 18 and 25 years old.

Analysts also considered profitability and revenues of 43 stock exchanges depending on their real trading and listing costs based on BlockchainTransparency and CoinMarketCap. Comparing the real turnover to the stated one, the experts found that the turnover of 29 out of 43 exchanges did not correspond to what they declared. The greatest difference is shown by CoinEx, LBank, ZB.COM, Huobi, and OKEx. At the same time, Binance, Bitfinex, Coinbase and Kraken correspond to the stated data.

The organization also made a portrait of the average trader. So, analysts have found that at least 50% of users of crypto exchanges have completed higher education — in economics or mathematics. About a quarter more study undergraduate or graduate programs. More than 70% of traders are men. The exception is exx.com, where a record percentage of female audience is registered — 52.67%.

The average age of the exchange players ranges from 25 to 34 years. The exception is bitbank.cc, where the age segment of 35-44 years prevails. With regard to distribution by country, the average age of a trader in China is 20-30 years (50% of Huobi traders are between 30 and 50 years old). In the USA, in particular, on the Kraken exchange, the average age of traders is about 30 years, Binance's clients are mostly men of 25–35 years old.

Researchers note that due to a decrease in activity on the ICO market, many market crypto players have begun to look for other high-yield projects. According to the authors, cryptocurrency exchanges is just one of the promising areas. Thus, the analysis showed that the greatest income the exchanges generate from trading, and not listing. The most profitable at trading are Binance ($148 million), EXX ($58 million), Bitfinex ($46 million), and others.

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